ExxonMobil (XOM) Surges: Stock Moves 12.7% Higher

By Zacks Investment ResearchStock MarketsMar 24, 2020 09:32PM ET

www.investing.com/analysis/exxonmobil-xom-surges-stock-moves-127-higher-200518855

ExxonMobil (XOM) Surges: Stock Moves 12.7% Higher

By Zacks Investment Research | Mar 24, 2020 09:32PM ET

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Exxon Mobil Corporation (NYSE:XOM) was a big mover last session, as the company saw its shares rise nearly 13% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This reverses the recent trend for the company, as the stock is down 37.1% in the past one-month time frame.

The stock perhaps gained on expectations that the Western oil major will soon reduce its capital spending amid the COVID-19 pandemic, similar to its peers.

The company has seen six negative estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved lower over the same time frame, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.

ExxonMobil currently has a Zacks Rank #5 (Strong Sell) while its Earnings ESP is 0.00%.

Exxon Mobil Corporation Price

Exxon Mobil Corporation Price

Exxon Mobil Corporation price | Exxon Mobil Corporation Quote

A better-ranked stock in the Oil and Gas - Integrated - International industry is New Fortress Energy LLC (NASDAQ:NFE) , holding a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

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Exxon Mobil Corporation (XOM): Free Stock Analysis Report

New Fortress Energy LLC (NFE): Free Stock Analysis Report

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ExxonMobil (XOM) Surges: Stock Moves 12.7% Higher

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